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hone your grading skills -- 1839 large cent
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<p>[QUOTE="Leadfoot, post: 616902, member: 2972"]Not the way I read your post. To wit, you defined the term grading as follows:</p><p><br /></p><p>"When coins are graded the assigned grade is based on several things acording to both ANA standards and PCGS standards - contact marks, hairlines, luster, eye appeal and quality of strike."</p><p><br /></p><p>Then you defined pricing as follows:</p><p><br /></p><p>"They look at a coin, say it's worth $X dollars, and assign a grade according to that value."</p><p><br /></p><p>You never defined market grading, except to say it's defined as grading:</p><p><br /></p><p>"Market grading is a concept that was developed over many years and finally accepted by both the ANA and the TPG's in 1986. And it was absolutely not based on value, but rather the criteria I listed above."</p><p><br /></p><p>I will submit that market grading and pricing are one and the same. A coin is evaluated in market grading by its technical merits -- strike, marks, luster, eye appeal. Then it is given a bump up or down based on the market (most often a result of the eye appeal of the coin). The result is that market grading = pricing = ranking, IMO. To say the TPGs only look at the value of a coin is an oversimplification of how it works (again IMO).</p><p><br /></p><p>I will further submit that EAC grading does something remarkably similar, except there are never bumps in grade upwards, only downwards. The net effect is a ranking/pricing system that results in market grading/pricing.</p><p><br /></p><p>Lastly, I will submit that ANA grading, on the other hand, doesn't take into account eye appeal in the way a the market does, and that's the real difference between the grading standards (other than the ANA grading standards being slightly more conservative and based on details-focused grading).</p><p><br /></p><p>Respectfully...Mike[/QUOTE]</p><p><br /></p>
[QUOTE="Leadfoot, post: 616902, member: 2972"]Not the way I read your post. To wit, you defined the term grading as follows: "When coins are graded the assigned grade is based on several things acording to both ANA standards and PCGS standards - contact marks, hairlines, luster, eye appeal and quality of strike." Then you defined pricing as follows: "They look at a coin, say it's worth $X dollars, and assign a grade according to that value." You never defined market grading, except to say it's defined as grading: "Market grading is a concept that was developed over many years and finally accepted by both the ANA and the TPG's in 1986. And it was absolutely not based on value, but rather the criteria I listed above." I will submit that market grading and pricing are one and the same. A coin is evaluated in market grading by its technical merits -- strike, marks, luster, eye appeal. Then it is given a bump up or down based on the market (most often a result of the eye appeal of the coin). The result is that market grading = pricing = ranking, IMO. To say the TPGs only look at the value of a coin is an oversimplification of how it works (again IMO). I will further submit that EAC grading does something remarkably similar, except there are never bumps in grade upwards, only downwards. The net effect is a ranking/pricing system that results in market grading/pricing. Lastly, I will submit that ANA grading, on the other hand, doesn't take into account eye appeal in the way a the market does, and that's the real difference between the grading standards (other than the ANA grading standards being slightly more conservative and based on details-focused grading). Respectfully...Mike[/QUOTE]
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hone your grading skills -- 1839 large cent
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